Economics 9708 · AS & A Level · Indifference curves and budget lines

Indifference curves and budget lines — practice question

A consumer purchases two goods, X and Y. The consumer's starting equilibrium is at R and the ending equilibrium is at T. The indifference curve diagram illustrates the impact of a decrease in the price of good X and the resulting income and substitution effects. What does the diagram imply about the type of good X and the nature of its relationship with good Y?

  • Anature of good X: inferior; relationship between X and Y: complements
  • Bnature of good X: inferior; relationship between X and Y: substitutes
  • Cnature of good X: normal; relationship between X and Y: complements
  • Dnature of good X: normal; relationship between X and Y: substitutes

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